JETS flagging on new channel
Technical Analysis
On november 24th, JETS broke out above its june highs, and consolidated (orange square), demonstrating a successful break out of the channel. Now it shows a flag, showing potential for more upside.
There is a strong resistance level at $27.7; at this point I would expect a pullback, to ultimately reach the top of the gap around $30.
I am using a stop under the 10sma to take partial profits.
Fundamental Analysis
The market is a forward looking mechanism, with the path of the recovery setting a potential comeback for Airlines for Spring; JETS is fundamentally undervalued right now.
On november 24th, JETS broke out above its june highs, and consolidated (orange square), demonstrating a successful break out of the channel. Now it shows a flag, showing potential for more upside.
There is a strong resistance level at $27.7; at this point I would expect a pullback, to ultimately reach the top of the gap around $30.
I am using a stop under the 10sma to take partial profits.
Fundamental Analysis
The market is a forward looking mechanism, with the path of the recovery setting a potential comeback for Airlines for Spring; JETS is fundamentally undervalued right now.
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